WSJ What’s News U.S. Gas Prices Top $4 a Gallon
47 snips
Mar 31, 2026 
Sam Goldfarb, a Wall Street Journal markets reporter who covers bonds and investor behavior, joins to unpack recent market drama. He talks about why bonds failed as safe havens. He explains how rising Treasury yields link to mortgage rates and shifting Fed expectations. He outlines what could move bonds next, from geopolitical shocks to investor psychology.
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Energy Route Risk Drives Rapid Gas Price Spike
- U.S. gasoline topped $4 per gallon after a Kuwaiti tanker was struck near Dubai, underscoring supply-route risk impacts on fuel prices.
- AAA data shows prices rose more than $1 in a month, linked to threats to key shipping routes like the Strait of Hormuz.
Strait Of Hormuz Not Guaranteed Priority In Military Plan
- The administration may not reopen the Strait of Hormuz immediately, prioritizing four military objectives over quick maritime reopening.
- Caroline Levitt said full reopening is a goal but core Operation Epic Fury objectives are destroying Iran's navy, missiles, defense industrial base, and preventing nuclear capability.
Washington State Adopts Millionaire Tax
- Washington state will tax income over $1 million at 9.9% starting 2028, reflecting a blue-state move to raise revenue.
- Republicans warn the tax could push high earners to lower-tax states amid an expanding list cutting personal taxes.